Fifth Third acquires DTS Connex

Fifth Third (NASDAQ:FITB [https://seekingalpha.com/symbol/FITB]) has acquired [https://seekingalpha.com/pr/20206602-fifth-third-announces-acquisition-of-dts-connex-adding-scale-innovation-in-cash-management]DTS Connex, a company that specializes in cash management software solutions for multi-location businesses.

Financial terms of the transaction were not disclosed.

Effective August 1, DTS Connex became a wholly owned subsidiary of Fifth Third, but will continue to operate independently as a stand-alone business.

DTS Connex’s technology solutions address the complex and complicated needs of clients seeking to increase efficiency, transparency, and oversight in cash logistics management.

The acquisition adds expanded capabilities in cash logistics offerings, infrastructure, and risk management to Fifth Third’s Commercial Payments business.

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